Air Lease Corporation Announces the Lease Placement of Two New Boeing 737-800s with Kunming Airlines

LOS ANGELES, California, September 29, 2014 — Today Air Lease Corporation (NYSE: AL) announced the long term lease placement of two new Boeing 737-800s with Kunming Airlines (China), scheduled for delivery in 2015. These aircraft are from ALC’s order book with Boeing.

“We are pleased to announce this strategic lease placement with Kunming Airlines, an important new customer for ALC in China. Kunming has been steadily increasing and modernizing its fleet to meet regional traffic demands, and we have worked closely with the operator’s management team to provide new and efficient aircraft to optimize their future fleet,” said Jie Chen, Executive Vice President and Managing Director, Asia.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including expected delivery dates. Such statements are based on current expectations and projections about our future results, prospects and opportunities and are not guarantees of future performance. Such statements will not be updated unless required by law. Actual results and performance may differ materially from those expressed or forecasted in forward-looking statements due to a number of factors, including those discussed in our filings with the Securities and Exchange Commission.

About Air Lease Corporation (NYSE: AL)

ALC is a leading aircraft leasing company based in Los Angeles, California that has airline customers throughout the world. ALC and its team of dedicated and experienced professionals are principally engaged in purchasing commercial aircraft and leasing them to its airline customers worldwide through customized aircraft leasing and financing solutions. For more information, visit ALC's website at www.airleasecorp.com.

About Kunming Airlines

Established in 2005, Kunming Airlines operates a fleet of Boeing 737-700 and 737-800 aircraft. Based in Kunming, Yunnan Province, Kunming Airlines operates domestic routes within China with plans to expand their fleet and introduce international routes within Asia. Kunming Airlines is an affiliate of Shenzhen Airlines.